Nasdaq100 (NQ) is consolidating after yesterday’s massive 2% plus surge, but is likely to grind higher to the psychologically key 12k whole figure level and upchannel resistance (on the 4hr chart) in the next day or so. Odds are suddenly moderately high and increasing that yesterday’s break above the weekly chart descending wedge resistance ends the 2022 bear…
Nasdaq100 (NQ) slid more than 1% yesterday after getting rejected Wednesday at descending wedge resistance (on the weekly chart). NQ appears to be entering the advanced stages of the Dead Cat Bounce that began early in the new year, with odds increasing for NQ to slide back to this year’s low before month end…
Nasdaq100 (NQ) is consolidating after the strong short covering last week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Nasdaq100 (NQ) is consolidating after the strong short covering this week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Wheat (ZW) is starting the week consolidating for a 3rd straight day near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Nasdaq100 (NQ) is at elevated risk of a descending wedge extension (on the 4hr and weekly chart) in the next week. NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
Nasdaq100 (NQ) is trying to edge higher to kick off 2023, but remains vulnerable to a descending wedge extension (on the 4hr and weekly chart). NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
Nasdaq100 (NQ) is trying to hold the 2022 low going into year end as seen by the near complete weekly Hammer. Nevertheless, NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
The AUDUSD is edging higher as its month plus consolidation around downchannel resistance (on the weekly chart) approaches completion. Regardless of any retest of the consolidation range low next week, the AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over, but is trying to hold the 2022 low going into year end. Nevertheless, NQ appears less likely to bounce back by early January to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…
